Bishop Cowan reviewed the Fund Profile – which limits the funding of operational deficits with unrestricted bequests to the National Church. The purposes for MIF expenditures and criteria for grant applications were explained. At the present time, applications for funding are considered by a group consisting of the Primate, Prolocutor and General Secretary, in consultation with the Treasurer.
That the Council of General Synod ratifies the Grants approved by the Ministry Investment Fund Committee at its meeting on December 19, 2012 for a total of $95,590 for 2013.
Ms. Hanna Goschy, Treasurer, led the presentation covering the Ministry Investment Fund (MIF) approved grants for November 2015, the proposed Statement of Investment Policy revisions, the third quarter 2015 revenues and expenditures, and the 2016 proposed budget.
It was noted that the 2016 budget is conservative but realistic and that the years 2016 – 2020 show a modest, year-after-year surplus. She advised that the budget is realistic, achievable and sustainable.
Be it resolved:
That the Council of General Synod approve the grants recommended by the Ministry Investment Fund Committee as outline in document #007-33-15-11 totaling